My Avalanche exploration started from the basecamp, with no climbing experience. I knew I wouldn't reach the peak without help, and the YAK was the faithful companion that helped me to go for the summit.
I was ready to climb another layer-2 mountain, as Yield Yak launched on Arbitrum. Why was this a massive move in the Cryptoverse? Yield Yak is the most popular and most used optimizer on Avalanche, and expanding on a new chain means more TVL and new opportunities.
Arbitrum is an Ethereum Layer-2 scaling solution that supports smart contracts without the limitations of scalability and privacy. The chain become popular due to low transaction fees and less congestion than mainnet, plus FOMO and hype when the token airdrop rumors started. The hype turned into quality after the $ARB airdrop, and the ecosystem kept growing.
Yield Yak was the clear choice to stake my $AVAX, as I wanted to earn slow and steady like an yak! Enjoyed the optimized yields, saved on gas, relaxed and watch the numbers grow!
Yield Yak is the most popular and most used optimizer on Avalanche, due to the great variety of opportunities that it offers, and this legacy was extended on Arbitrum. The optimizer is in charge of maximizing the annual percentage of rewards that users can get when farming or staking your cryptocurrencies on other platforms.
The optimizers use the rewards users receive to exchange it for the cryptocurrency or cryptocurrencies you are farming or staking. The next step is to put those cryptocurrencies back into the farm. The compound interest is obtained by using the rewards and reinvesting them in the farm. Sit back and earn!
The optimizers use the rewards users receive to exchange it for the cryptocurrency or cryptocurrencies you are farming or staking. The next step is to put those cryptocurrencies back into the farm. The compound interest is obtained by using the rewards and reinvesting them in the farm. Sit back and earn!
The same system was implemented on Arbitrum, and pools were constantly added! Top stuff like Trader Joe vaults or a place at Camelot's Round Table happened quickly! The Yield Yak partnership with CamelotDEX created a massive hub for $YAK liquidity on Arbitrum, with triple reward incentives being added for farmers. The farmers were able to earn $GRAIL, $ARB and $YAK in one go!
Yield Yak on Arbitrum meant that I was finally able to stake my lazy $ARB tokens. I got 2200 tokens from the airdrop and bought the dip at $0.88 to make a round number.
I decided to stake 3000 $ARB with Yield Yak, at 3.30% APY. Auto-compounding yield gives a hustle-free farming experience. The rewards are being constantly added on top of the basic amount, and the total keeps growing without any gas waste. The pool is provided by Silo, and finally gave me the opportunity to grow my $ARB portfolio.
I had 1300 $GLP earning $ETH on GMX, with an APR hoovering at 10% or even better. Yield Yak smashed that farming rate and brought not double rewards but... four times bigger yield.
On GMX I had to claim the ETH but Yield Yak changed the dynamics. Staked the $GLP for 37% APY, and those auto-compounding rewards are pilling-up automatically. No need to check... no need to worry! I am telling you nice and early... 2024 is the year of the Yak!
Residual Income:
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